SMSF Association Submission
The SMSF Association welcomes the opportunity to provide this submission in response to the Government’s public consultation paper. The temporary COVID-19 measures put in place by the States and Territories were needed and have been warmly welcomed. On the back of these and other Federal reforms, it is appropriate that we all cast our minds to more permanent reform.
Self-managed superannuation funds (“SMSF”) are a form of special purpose trust. Any measures that seek to embrace technology, reduce red tape, cost and complexity are welcomed. At the same time, it is vital that we continue to preserve the integrity of the sector and protect individual’s retirement benefits from theft and fraud. Any measures implemented should not provide a platform that in
effect legitimise illegal activities.